Florida Banking September 2021

Upholding a Family Legacy FNBT THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION WWW.FLORIDABANKERS.COM SEPTEMBER 2021

John Tringas, Chairman

ICS ® and CDARS ® have new names.

CDARS and ICS deposit solutions are now IntraFi ® Network Deposits SM . And all of our funding products are called IntraFi Funding SM .

IntraFi Network Deposits can help your institution manage its balance sheet and provide its customers with access to millions in FDIC insurance. And, we still offer our full range of wholesale funding solutions. IntraFi Funding offers flexible funding solutions to help banks of all sizes meet planned or unexpected needs, regardless of their liquidity position.

Same great products. New names.

IntraFi.com

Use of IntraFi Network Deposits and IntraFi Funding are subject to the terms, conditions, and disclosures set forth in the applicable program agreements, including the IntraFi Participating Institution Agreement. Network Deposits, IntraFi Funding, and the IntraFi hexagon are service marks, and IntraFi, ICS, and CDARS are registered service marks, of IntraFi Network LLC.

Editorial & Executive Offices 1001 Thomasville Road, Suite 201 Tallahassee, FL 32303 850-224-2265 www.floridabankers.com Advertising & Production Offices 945 Winnetka Ave. N., Ste. 145 Golden Valley, MN 55427 952-835-2275 For advertising information, contact Valerie Fischer, sales account executive 913-261-7055 Valerie@NFRcom.com For reprints or single issues, contact 800-336-1120 Statements of fact and opinion are made on the responsibility of the authors alone and do not imply an opinion or endorsement on the part of the officers or members of FBA. Florida Banking is published 11 times annually with a combined issue in December/January. Subscription price is $50 per year for nonmembers. Postmaster, send address changes to Florida Bankers Association, P.O. Box 1360, Tallahassee, FL 32302. Copyright 2021 Alex Sanchez President and Chief Executive Officer Fax 952-835-2295 www.BankBeat.biz

THE MAGAZINE OF THE FLORIDA BANKERS ASSOCIATION

VOLUME 36

NUMBER 8

SEPTEMBER 2021

ON THE COVER 8 - - - - - - - - - - - - - - FNBT Upholding a Family Legacy CONTENTS 4 - - - - - - - - -Chair’s Message 6 - - - - - - Straight Talk from the President's Desk 12 - - - - Government Relations: 2022 Session is Right Around the Corner 13 - - - FBEF: 2021-2023 Florida Bankers Educational Foundation Board Chair - Susan Payne Turner 14 - - - -Florida BankPac Update 16 - -BancServ Endorsed Partner: Personalized Banking Vs. Privacy 18 - - -The Need for a Bipartisan Commission at the CFPB 20 - - - - - Personal Transactions 22 - - - - - - - - - - - - - Kudos 24 - - - - - - FBA Staff Spotlight 25 - - - - - - - Upcoming Events 27 - - - - - - - - Did You Know? 27 - - - - - Advertising Directory

8

Florida Bankers Association asanchez@floridabankers.com Pamela Ricco Executive Vice President and Chief Operating Officer Florida Bankers Association pricco@floridabankers.com Brooke Harrison Publications Director Florida Bankers Association bharrison@floridabankers.com

4

6

Fab Brumley Chair

Bill Penney Chair-Elect

Greg Nelson Immediate Past Chair

Lloyd DeVaux Second Immediate Past Chair

13

On the Cover: FNBT Chairman John Tringas

Florida Bankers Association: The voice of Florida banking since 1888.

Photos by Michael Spooneybarger

CHAIR’S MESSAGE

EDUCATIONAL OPPORTUNITIES FOR FBA MEMBERS

BY FAB BRUMLEY, FBA CHAIR

TO BE INFORMED AND KNOWLEDGEABLE IS PARAMOUNT TO MAINTAINING A COMPETITIVE ADVANTAGE, AND EDUCATING OUR BANKING WORKFORCE IS PERHAPS ONE OF THE MOST VALUABLE OPPORTUNITIES WE HAVE AS FBA MEMBERS.

I t is alarming how rapidly things are changing in our industry these days. Technology advancements continue to have a great impact on our economy as their adoption has accelerated due to Covid-19. For this reason, it’s increasingly important to stay up to date. To be informed and knowledgeable is paramount to maintaining a competitive advantage, and educating our banking workforce is perhaps one of the most valuable opportunities we have as FBA members.

purpose and general activities of a typical trust and wealth management department. We have 33 students in the incoming freshman class this year. The menu of FBA-sponsored curricula includes a variety of both online and in-person topical learning opportunities like seminars, webinars, workshops and conferences. Keep an eye on the FBA website, or flip to the back of the magazine for a list of upcoming educational events. The 16th Annual BSA/AML School is coming up in October. This event gives bankers the

For many years, the FBA has offered comprehensive educational programs that ensure bank employees understand the business of banking. The FBA’s schools, the Florida School of Banking and the Florida Trust & Wealth Management School, shape our students and graduates to become leaders in our industry. Most recently, the FBA hosted the 2021 Florida School of Banking (Aug. 1-7) and the annual Trust and Wealth Management Conference (Sept. 9-10).

required training for BSA and AML compliance and the tools for BSA/ AML regulatory examinations. All levels of experience are welcome. One of my personal favorites and one you don’t want to miss is the 8th Annual Women in Leadership Conference in early December. This event is designed to encourage, support and inspire women to continue their growth in management and leadership positions. It’s a fantastic opportunity

The Florida School of Banking gives bank personnel at the supervisory and officer level the opportunity to learn more about the banking industry and the economy. This year, the school welcomed an incoming freshman class of 68 students. Not only do students receive a stellar education, but also benefit from the friendships they form as they professionally develop over the course of their three-year schedule. The same could be said for the Florida Trust & Wealth Management School , which is designed to give students a well-rounded and practical understanding of the establishment, structure,

to network with attendees and speakers, including successful women executives from Florida’s financial institutions and affiliated professional groups. Be sure to mark your calendars and make plans to attend these events. I hope to see you there! For more information on all the educational events the FBA has to offer, please visit www.floridabankers. com and click on the education tab, or contact Pete Brokaw at 850-701-3515 or by email at pbrokaw@ floridabankers.com.

4 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

Take comfort in the sound investments of ICBA Securities.

Cover your community bank in the comfort of knowing you have quality investment products.

ICBA Securities powered by Vining Sparks is interwoven with ICBA — so when you put your trust in us, you support the community banking industry.

Find your snug investment options at icba.org/securities Member FINRA/SIPC

STRAIGHT TALK FROM THE PRESIDENT’S DESK

FLORIDA CONTINUES TO GROW

BY ALEJANDRO “ALEX” SANCHEZ, FBA PRESIDENT AND CHIEF EXECUTIVE OFFICER

WHAT MAKES FLORIDA SO ATTRACTIVE TO SO MANY?

O ur big, beautiful state of Florida continues to grow. We are so blessed to live here, aren’t we? Over my lifetime, I have had the opportunity to move elsewhere, and have always decided to stay here in what is home for me: Florida. I consider myself a true Floridian, one who knows and understands the diversity of our great state. I have lived in South, Central and North Florida, three distinct parts of the state. Each is different, but we are united as Americans and Floridians. Florida is unlike so many states. We have a little bit of everyone here because our citizens are from everywhere. We are in the South, but we also have the Midwest, and of course we have the Northeast (especially New York) too in our culture. We have the Hemisphere, as many of our citizens and residents originally came from countries south of us. More and more now are we seeing Californians moving here as they seek to get out of the highly taxed, highly congested Golden State. Florida is much more than weather, beaches, Disney and agriculture. Thanks to the great efforts of our current Governor Ron DeSantis, and our past Governors Jeb Bush, Rick Scott and Bob Graham, Florida has become an iconic state and place in the eyes of many globally. Our Governors along with other state leaders have diversified our economy so that our children can now stay here and work and raise their families. Let us not take that for granted; for years I remember those who moved out of state to find good-paying jobs. Now our children are staying here, and they are being joined by the children of out-of-state families, as they move to Florida to make their lives.

What makes Florida so attractive to so many? There are many answers to this question, but one that comes to mind is how easy one is accepted here. Florida had only two million residents in the 1950s, so most of us are from elsewhere. My family and I have always felt welcomed in Florida as we too became Floridians. After my family sought freedom in the United States, from the socialist tyranny of Castro’s Cuba, as did many Cubans, we were welcomed here on the shores of this most beautiful peninsula: Florida. Before moving to Florida from New York City, I remember those TV commercials where the announcer would say, “Come on down to Miami Beach.” As a child living in NYC, I wished my family would move to Florida. I also remember watching the 1960s TV series Flipper. That was my fantasy of Florida, a place that was beautiful and welcoming. When I travel to other states, and people ask me where I am from, you should see the sparkle in their eyes when I say Florida. They say, “Florida, wow we love it there.” I think there are so many that fantasize about moving to Florida. The reality is that thousands do each year. Between April 1, 2020 and April 1, 2025, population growth in Florida is expected to average 308,497 net new residents per year (845 per day), representing a compound growth rate of 1.39 percent over this five year time horizon. These increases are analogous to adding a city slightly larger than Orlando every year. It is projected that by 2030, Florida will have 24.5 million residents. So, if you are reading this column, and you do not live in the Sunshine state, will I see you in Florida? Come on down, you were meant to be here.

6 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

BancServ Endorsed Partners BancServ, Inc., was created by the Florida Bankers Association as an innovative approach to solve problems for financial institutions. By providing research, testing and offering products and services at a discounted rate, BancServ is saving Florida banks two incredibly important resources: time and money. This extensive research and screening performed by BancServ before it contracts with a vendor has allowed institutions of all sizes to become more efficient and effective. BancServ,Inc. is creating

profitable conditions, solving problems and meeting needs with significant value for all financial institutions. For more information

please call Pamela Ricco, CEO of BancServ or Jim Seay, Managing Director of BancServ at 850-224-2265 .

John Tringas, Chairman

Upholding a Family Legacy FNBT

8 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

T he Tringas family has certainly made its mark in the Fort Walton Beach community. John Tringas, chairman of FNBT, comes from a family of savvy entrepreneurs. He is named after his grandfather John K. Tringas, more affectionately known to his Greek family as “Papou.” The elder Tringas owned and operated his own community grocery store in Pensacola. He gave his son, James John Tringas, $700 to open the first family theatre

James Tringas and his investors opened Southern National Bank in 1955 when the Tringas’ lawyer and dear friend, John Amos, encouraged the family to embark on a new business venture – starting a bank. Amos later moved to Georgia and started an insurance company that we know today as Aflac. Southern National Bank (today, FNBT) was the second bank in Fort Walton Beach. While local businessmen bought bank shares, the Tringas family

“ NOT MANY BANKS WERE WILLING TO TAKE ON THE RISK OF THE CREDIT CARD BUSINESS, BUT WE DID. FBS NOW PROCESSES OUR CREDIT CARDS, AND WE’RE LOOKING FOR OTHER BANKS THAT WOULD LIKE US TO PROCESS THEM OR HELP THEM GET INTO THE CREDIT CARD BUSINESS. ”

- JOHN TRINGAS

held the majority. James Tringas continued to buy stock in the bank and became a major shareholder. At one point, he had mortgaged everything but the family home to buy more stock. Today, FNBT has nine locations in addition to its main office. “People ask me how I became president of the bank, and I like to say… It didn’t hurt that my dad was Chairman of the Board, and I outlasted all the presidents that preceded me,” Tringas said.

in downtown Fort Walton Beach, and eventually moved there himself after closing the doors of his grocery store. Papou was a permanent fixture in the box office of Tringas Theatre until his retirement around 40 years later. Tringas credits Papou for instilling in him an attitude of dedicated service and humility. He remembers turning 16 and proudly driving his car to the family theatre, where he parked out front

“ WE HAVE 23 FOLKS WHO HAVE WORKED HERE FOR OVER 20 YEARS. I’VE FOUND THAT IF YOU WANT TO BECOME BETTER AT ANYTHING YOU DO, IT HELPS TO HANG AROUND PEOPLE WHO ARE SMARTER THAN YOU. ”

- JOHN TRINGAS

How has FNBT outlasted its competition? The Tringas family was unafraid to make bold moves in the name of advancement and better servicing customers. In 1968, the bank began issuing and processing credit cards. Tringas himself got to run the department, and faced skepticism from the president at the time who didn’t believe they would make money in the credit card business. Tringas proved him wrong when the business became profitable within 18 months. The bank processed 10,000 MasterCards that year. Not long after, the bank bought its first computer for data processing — a big IBM computer leasing FNBT, Continued on page 10

for his first day of work. When he walked in, Papou promptly told him to move the car because “the help parks out back.” “To this day, I think of myself as ‘the help,’” Tringas said. When his family entered the banking business, Tringas worked as a teller, rolled coins, mailed checks and ran bookkeeping machines. Today, more than 60 years later, that same coin counting machine sits in his office. His walls are lined with family photographs that are evidence of Tringas’ deep love and appreciation for his family and the legacy that he upholds.

WWW.FLORIDABANKERS.COM SEPTEMBER 2021 — 9

“ OUR CLIENTS HAVE A GREAT DEAL OF TRUST IN US ... THEY HAVE SEEN ALL THE LOCAL BANKS COME AND GO, AND AFTER 65 YEARS WE ARE THE SAME BANK WITH THE SAME FAMILY OWNERSHIP. WE HAVE POSITIONED OURSELVES TO BE SURVIVORS. ” - JOHN TRINGAS

knit, long-term, confidential relationships by providing superior banking services and products. Its motto is “Our Business is Banking, Our Specialty is People.” “We are the last family-owned local community bank in our area. FNBT is for customers who want the best personal customer service,” Tringas said. “We have 23 folks who have worked here for over 20 years. I’ve found that if you want to become better at anything you do, it helps to hang around people who are smarter than you.” Tringas says that everyone on his team makes him look good: Larry Beasley, Jimmy Tucker, Mona Salter, Gayle Carmichael, Marklyn Wade, Skip Rainer, and his brother Alex Tringas and sister Lark

Jack Henry Silver Lake software. The bank started its subsidiary First Banking Services of the South (FBS) in 1993 to provide core data processing for other banks. “Not many banks were willing to take on the risk of the credit card business, but we did,”Tringas said.“FBS now processes our credit cards, and we’re looking for other banks that would like us to process them or help them get into the credit card business.” At one time, FBS processed for 12 banks, three of which were 3-8 billion dollar banks. Today, mergers and acquisitions have reduced those numbers, but FBS is still in the data business. FNBT also has a private banking division. “Suite 100” was designed to establish and maintain close

The FNBT team in the lobby of the main branch in Fort Walton Beach.

10 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

TRINGAS CREDITS HIS MENTORS “ Sometimes, where you started says more than where you're going. In my case, you have to start with my Papou, John K. Tringas, and my dad, James John Tringas. When my Papou came from Greece to Pensacola over 110 years ago, he spoke no English and had a limited education. But he worked very hard. Papou owned and operated his own community grocery store in Pensacola. When the chain “Our clients have a great deal of trust in us … they have seen all the local banks come and go, and after 65 years we are the same bank with the same family ownership. We have positioned ourselves to be survivors,” Tringas said. “Retiring isn’t something I’ve considered … what would I do in the morning?” Bostick, who serve on the board with Paul Petry (just to name a few). “There are many others, who I’ve most likely offended by not mentioning … but they know who they are and how important they are to me and the bank,” Tringas said. The Tringas family and the FNBT team have inspired loyalty in their community.

John Tringas rolled coins when he started working at the bank. Today, that same coin counting machine sits in his office.

grocery stores came to town and you could buy products off their shelves for less than Papou could from his wholesalers, he knew the community grocery store business was on its way out. He moved to Fort Walton after closing his doors. Growing up, my parents and my Papou worked day and night. My life was built around watching them getting ready to open the theater and popping popcorn. In those days, dad made a profit in the theater business during the tourist season and tried not to lose too much of it before the tourists came back. He sold theater ads to local merchants, and he used to say those ads paid for our Christmas. That is a time long since passed that will never be seen again. I am so grateful for my Dad and Papou and what they taught me, especially since I was not a quick learner. Around 1990, I convinced my dad to let me run the bank. I used the money from a deal I made with Martin Theaters to make a down payment to buy my parents' shares in the bank. I have witnessed family community grocery stores go out of business because of the national chain grocery stores; I've seen family community theaters go out of business because of national theater chains. You could make the case that the family community banking business will not last. I have watched all the other locals sell out or get shut down by the FDIC. The common thread for my family is adapting to change. At some point, it may be necessary to adapt again. ”

WWW.FLORIDABANKERS.COM SEPTEMBER 2021 — 11

GOVERNMENT RELATIONS

2022 SESSION IS RIGHT AROUND THE CORNER

BY ANTHONY DIMARCO, FBA EXECUTIVE VICE PRESIDENT AND DIRECTOR OF GOVERNMENT AFFAIRS

D o you have your New Year’s Day plans yet? There are only 150 days left in 2021 (on the day I write this column). Be sure to begin your Christmas shopping soon, because Christmas is a week earlier. The holidays are not the point of this column; the start of the 2022 Session on January 11 is the point. Committee meetings will begin even earlier, starting at the end of September. To this end, legislators have already begun filing bills for the Session.

from our members. You know best since you are in the trenches every day. Not only do we push to pass legislation, we must also fight off or amend other bills. We expect that the credit unions will once again file their public deposits bill. We also expect that the consumer data privacy bill from last Session will return. PACE should also have a return engagement. We expect we will work again with the stakeholders on property insurance dealing with roof repairs as well. Then there are always bills we do not expect, such as last year’s data privacy bill. We will not know these bills until they are filed. That could be as late as the day Session begins. Capitol Day will take place on January 19 in Tallahassee. The day will start with our final GRC meeting. We will then have a lunch speaker and go to the Capitol to lobby for our issues and to hear from more Florida political leaders. Afterwards, we will return to the FBA headquarters to enjoy fellowship and dinner. Please watch for more details as we get closer to the event. As always, you are critical to the FBA’s success. You send us legislative and regulatory concerns. You answer our Calls to Action to help push or stop legislation. Also, through your involvement in the community, you know legislators and can reach out to them about legislation. Attending our lunches, dinners, Capitol Day and the DC trip are also critically important to our mission. Simply put, we could not do this without your involvement and help. We are counting on you!

The FBA is also beginning to set its legislative priorities for the upcoming Session. The first step is our Bank Attorney Conference which will be held in August. At this meeting, we will hear from attorneys who represent banks as we discuss ideas that may turn into bills for this Session. The next step is for the FBA Government Relations Council (GRC) to discuss these legislative and regulatory issues with the FBA Board, and make recommendations

NOT ONLY DO WE PUSH TO PASS LEGISLATION, WE MUST ALSO

FIGHT OFF OR AMEND OTHER BILLS.

to the board on how to proceed. The GRC is comprised of 60 banks of differing sizes from around Florida. The members discuss these issues in great detail on both the state and federal levels, then take their recommendations to the FBA Board for final approval. The GRC will meet in October and November for these discussions. We also want to hear from you. Please contact Kenneth or me to discuss any state legislative or regulatory issues you have. We will take these to the GRC for discussion. Most of our legislative issues come

12 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

FLORIDA BANKERS EDUCATIONAL FOUNDATION

2021-2023 FLORIDA BANKERS EDUCATIONAL FOUNDATION BOARD CHAIR — SUSAN PAYNE TURNER

S usan Payne Turner has been elected to serve as the chair of the Florida Bankers Educational Foundation (FBEF) Board of Trustees. Turner has served on the FBEF board since 2017. The FBEF serves as a financial resource for bankers seeking to advance their careers through education through the FBEF Scholarship/Loan Program and the FBEF Career Development Program. Turner has worked for Prime Meridian Bank, Tallahassee, since 2013 and currently serves as the executive vice president, chief risk officer and HR director. Turner has 38 years of experience in banking and, prior to her employment with Prime Meridian, worked as a regional retail leader for Centennial Bank, where she managed ten branches located in Leon, Wakulla, Calhoun and Liberty Counties. Turner knows firsthand the importance of bankers continuing their education as she is a graduate of the Louisiana State University Graduate School of Banking, in addition to having completed her undergraduate degree from Florida State University and then a Master of Business Administration from Troy University in 2005. Her service to others can be seen through the many groups that she shares her time and talents with. In addition to serving on the FBEF Board of Trustees, Turner’s interest in education is evident in her participation with the Tallahassee Community College Foundation. She is a past chair of the Foundation and serves as director emeritus. She also serves as past chair for the Tallahassee Community College Alumni and Friends Association. Turner participates with many groups in the Big Bend area, serving as director emeritus on the Board for the Wakulla County Chamber of Commerce and associate director of the Wakulla County Historical Society. In addition, she is a member of the Coastal Optimist Club and is the treasurer on the Board for the Community Foundation of North Florida.

Turner has been actively involved with the Florida Bankers Association for many years, serving on the Banker Education Council and the Human Resources Committee, as well as the FBEF Board. Turner’s two-year term as FBEF Board Chair runs from July 1, 2021 to June 30, 2023. Prime Meridian Bank’s website says, “Even in an industry so dependent upon technology, good banking is still a product of good people.” The FBEF knows that good people can go on to do great things but, to do so, they may need help from others. We want to help deserving individuals seeking financial assistance because we know that today’s bankers are the future leaders of our industry. If you want to continue your education and become a better banker, the FBEF wants to help you. For applications and program information, please go to the Education section of www.floridabankers.com. We have application deadlines throughout the year so it is never too late to apply for FBEF funding. Please contact FBEF Director Letty Newton at lnewton@floridabankers.com or (850) 701-3522 for more information. The FBEF was organized in 1956 to provide financial aid to college students interested in pursuing a career in Florida banking and is a 501(c)(3) not-for-profit corporation registered with the Florida Department of Agriculture & Consumer Services, Registration #CH7621. If you are interested in making a tax-deductible contribution to the FBEF, contact Letty Newton at P.O. Box 1360, Tallahassee, FL 32302-1360, e-mail lnewton@floridabankers.com or call 850-701-3522. A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE 800-435-7352 WITHIN THE STATE. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL OR RECOMMENDATION BY THE STATE. www.FloridaConsumerHelp.com

WWW.FLORIDABANKERS.COM SEPTEMBER 2021 — 13

Florida BankPac Update PAC contributions for 2021: $238,102.26 Contributions received between 1/1/2021 and 8/2/2021

Contact Cheryl Tucker (ctucker@floridabankers.com) when your institution achieves 100 percent board member BankPac contributions.

Caldwell Trust Company Camp Grove State Bank Capital City Bank Group Thomas A. Barron Robert J. Beauchamp William F. Butler Stanley W. Connally, Jr. Bethany H. Corum Cader B. Cox, III J. Kimbrough Davis

Lindsey Blaise C. Dale Borrowman Tina Campbell Belinda Cooper Kristen Crawford Michelle Crawford Ginger Devine J. Kent Ernst Cindi P. Falanga Courtney Gage Mark D. James Glenda Kalitzki Stephen T. Kurtz Monica Lester Rebecca C. Miller Robert P. Purvis April Richey Matthew T. Riley G. Michael Smith Kathryn Thomas

Edison National Bank John Ammons Elizabeth Aurensan Greg Blurton Karen Brazelton Lenor Cross Christina DePari David DuVall Pamela Edwards

Banks with 100 percent board member contributions: Central Bank Community Bank of the South

Edison National Bank First Bank, Clewiston

Lisa Hobson June Howard Leah Kirby David Lowden Susan Nasworthy Kim Nyberg Wilmaris Ocasio Patrick Philbin

BankPac contributions: 5iron Jason Bradley American Commerce Bank, N.A. Amerant Bank Millar Wilson

J. Everitt Drew Laura Johnson Blucher B. Lines S. Craig McMillan Kenneth D. Pratt

John G. Sample, Jr. William G. Smith, Jr. John Jeffry Wahlen Capital City Trust Company

Geoffrey Roepstorff Robbie Roepstorff Richard Shera, Jr. First Bank, Clewiston Bryan Beer Mary E. Carroll Andrew Couse Miller Couse Earle Edwards, III Karl E. Larsen Thomas Perry Morris Ridgdill Carey Soud Deborah Van Sickle

Ameris Bank Anthem Bank

Tammy Vega Brad Weber Martina Weiss Heidi R. Wells Tracy Williams Laura Williamson Commerce National Bank & Trust

Rodger Shay BancorpSouth Bank

Capital One Central Bank

Jeffrey DiBenedictis Norris F. McMahon Jami Searle

Walter R. Andersen Scott Kohler Arvind Patel Dinubhai D. Patel Jayesh D. Patel Jayesh K. Patel Jiten Patel Mahendra Patel Nilesh Patel Rajeshkumar C. Patel Shilen K. Patel Vijay Patel Anand Sabapathy John Thompson CFT, International Connie Laguna Citizens Bank & Trust Jinx W. Chaney Tiffani R. Gozdur Cynthia W. Henry Jan Melinda Herrin Sharon R. Johnson Sherry B. Kelley Greg Littleton Robert A. Loftin William G. Middleton Bonnie B. Parker Lori J. Wilson William Brian Yates Citizens Bank of Florida Tim Slattery Citizens First Bank Jay Bartholomew Carlie Wynn Cosce Marianne F. George

Bank Leumi Bank of America

Ray Colado Eric Ravndal Community Bank

Fabiola N. Brumley Bank of Belle Glade Julie Bussey Stephen Prielozny BankFlorida Allen Altman Dale E. Maggard Pamela Mattox Barbara Stalnaker

Linnette Kellar Fred Leopold Jason Morehouse Justin Woodard Community Bank of the South Harold T. Bistline Stephen D. Crisafulli Maxwell C. King Kevin P. Markey Kevin B. Steele William T. Taylor Carlos K. Woodward Community Spirit Bank Brad Bolton Community State Bank Jeff Oody Consolidated Banking Services Taryn Fox Crews Banking Corporation Michael Aloian Desjardins Bank, N.A. Louis Rheaume Drummond Community Bank Paige Brookins Luther Drummond

First Citrus Bank First Colony Bank of Florida Ralph Betancourt Edward E. Haddock, Jr. Bruce W. May Domingo Sanchez Thomas J. Sheehan First Federal Bank of Florida

James S. Stalnaker, Jr.

Barwick Bank

William S. Beardsley Courtney Blackburn George D. Brewer G. Wayne Cochran, Jr. Pam Hitt

John Hodas

Beach Bank

Don Anchors Tonya Calix Carl J. Chaney Peter Dyson Henry Gonzalez, III Richard Mocsari Andrew Peterson

Georgia C. Jones Keith C. Leibfried

Stephanie McClendon Lawrence A. McGrath John A. Medina, Sr. James Moses

Charles Reeves Daniel Speight Thomas Wells Pam Woodall

Paul D. Ottendorf Stephen A. Smith Robert Turbeville

BKD, LLP

First National Bank Coastal Community R. Moyle Fritz First National Bank of Mount Dora Bob White

Michael Belman BMO Private Bank Amy Hale Cadence Bank, N.A.

Lynetta Usher Griner Donald J. Quincey, Jr.

14 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

First National Bank of NW Florida Angie Barger First National Bank of South Miami Veronica Flores First National Bankers Bank Charlie W. Brinkley, Jr. Michael Malone Blake Tolbird First State Bank of the Florida Keys Karen M. Sharp Flagship Bank David Brandon Ronald Hockman

Paul Rountree Marine Bank & Trust Company Kevin J. Given William J. Penney Mauldin & Jenkins, LLC Dianne Kopczynski Alison Wester MidWest One Bank Thomas DiBernardo

John Stump Simon Sumner Mayelin Swafford

Dianne Cohrs Cathy Collins Charles Colwill Debbie Cooper Sharon Delong Kathryn Dinsmore Tim Donaldson Genna Dziloski Richard Eatman Luis Eguia Patricia Fain Kristen Feazell James L. Ferman, Jr. Steve Fluharty Tony Fortunato Scott Gault Ann Giles Kevin Gilligan Merlisia Gittens Donovan Glaister Brett Divers Jerry Divers Ron Hernandez Erin Hesbeens Margo Hirons Beth Horner Oscar Horton Kaley Infield Rich Junkermann Kyle Keith Malorie Kent William Kent Aenoi Kounlavong Mike Krieg Owen LaFave Alison LaPointe Tom Lee Thomas Leto Toby Lincoln Jon Locklear Tim Mann Joe Marshburn Lantz Martin Cristina Martinez Susan Miller Judy Mitchell Blaine Morrison Sebastian Mrowczynski Charlie Murphy Corey Neil David Newberry Jessica Noble Tom Oliver Dotti Overton Zane Petty Lynn Grant Jessica Hall Cathy Harris Gary Harrod Silas McAninch Terry McFatter

Daryl Tatum Frank Territo James Tollerton Darrell Turner John Unger Billie Valloreo Debbie Viveiros Eric Walley Donna Walsh Chad Wammock Craig West William O. West David Zillig The Spencer Group Kendall Spencer TIAA Bank Mark Parthemer TIB The Independent BankersBank, N.A. Don Briscoe Truist Bank TrustCo Bank Kevin M. Curley John R. George Michael Hall Robert M. Leonard Robert J. McCormick Michael M. Ozimek, III Scot R. Salvador Eric Schreck Trustmark National Bank Kelley Sumrall United Southern Bank Connie Frady Gregory L. Nelson U.S. Century Bank Valley National Bank Jeffery W. Klink Joel E. Whittenhall ViZ Bank & Trust (I/O) Joseph Dorsey Ward Damon Sasha Klein Wauchula State Bank Sherry Bohannon

Minesh Dodia Michael Durkin Ana Maria Senica NFP Executive Benefits Joseph Schaefer One Florida Bank Frederick G. Pullum Pilot Bank Roy Hellwege Prime Meridian Bank Raymond James Bank Brian Nestor Reich & Tang Jason Blair Renasant Bank Rick Kuci Seacoast Bank Javier Jorge Rita Lowman

Mark Klein Ken Marks Robert B. McGivney

James Nelson Joseph Oliveri Brent Sembler Robert Shaw Paul Wikle Florida Bankers Association Pete Brokaw Anthony DiMarco Kenneth Pratt Alex Sanchez Andrea Williams Florida Business Bank William R. Norris Grove Bank & Trust Gulfside Bank Tim Clarke Jennifer B. Compton P. Compton Cramer, Jr. N. Rogan Donelly Teri A. Hansen F. John LaCivita Thomas A. Martin, Jr. Dennis B. Murphy Sam D. Norton Michael R. Pender, Jr. Charles W. Rush Drayton A. Saunders Jeff Saunders Hancock Whitney Bank Emory Mayfield Heartland National Bank Mary Rose McCarron Maggie McCormick

Susan Blackburn Cathy Swanson

SelectSource

Angie O’Reilly ServisFirst Bank Shazam Rich Day Bryan Kain Smart Bank South State Bank

Michael L. Sleaford

STS Group Jay Lewis

Chris Nelson SunSouth Bank Sunstate Bank

Yvonne Debesa Lloyd DeVaux David A. Lieberman

Andrew S. Bible James C. Clinard Jerry T. Whidden

Pamela Cobb J.W. Crews, Jr. Mark Delaney Nellie Garcia Stephen Heine Misty Hughes Daniel Irby Donna McKown Christy Page Gary Roberts, Jr. Monica Stevenson

Surety Bank

Intercredit Bank Simon Cruz International Finance Bank Jose Cueto JPMorgan Chase Michael Bennett Legacy Bank Dennis Bedley Madison County Community Bank Mainstreet Community Bank

Ryan James The Bank of Tampa E.D. Armstrong, III Suzy Bateman Douglas Bishop, Jr. Bob Blanchard, Jr. Bryan Boudreaux Matt Boyd Dave Brown John Bui

Rich Phillips Kris Phillips Lee Pierson

Stacey Pittman Malorie Porter Susanne Powers Jennifer Ptack Roger Rivard Barbara Schwabe Reade Sevigny Anne Shaughnessy Robert Smedley Joel Smith

Andrew Tate Denise Terrell Jennifer Wadsworth Winter Park National Bank Sidney Cash

Mitchell Burley Melissa Burman Maureen Busch Greg Celestan Ken Cherven Aric Chevtaikin

W. Ben Flowers James H. Ford Thomas D. Ingram Wendy B. Libby Hal Rogers

Michael Crisante David Dotherow

WWW.FLORIDABANKERS.COM SEPTEMBER 2021 — 15

BANCSERV ENDORSED PARTNER: BANK MARKETING CENTER

R

S

E

K

A

N

S

A

S

O

B

C

A

I

D

A

I

T

R

I

O

O

L

N

F

PERSONALIZED BANKING VS. PRIVACY

BY NEAL REYNOLDS

IS RECEIVING A PURCHASE RECOMMENDATION FROM AMAZON OR NETFLIX THE SAME AS GETTING ONE FROM YOUR BANK?

D igital Personalization: 33 percent say it’s not worth the risk. The pressure on banks to really step up their digital experience game is, as we all know, greater than ever. Branch banking, according to pundits, is probably going away. “Probably” because, honestly, no one really knows, right? It sure looks like it, however. That being the case, where does that leave banks? With a huge incentive to ramp up their digital experience through personalization. Also, according to pundits, most banks are offering only the basics in this channel. And why is that? There is no doubt that personalization is a big deal in customer engagement. Having that deep understanding of each customer’s unique needs, driven by data and analytics and aided by machine learning, is every marketer’s dream. That understanding of exactly what a customer is thinking, feeling and needing forms the very bedrock of any solid, strategic marketing effort. According to the Boston Consulting Group (BCG), “a majority of people who are either open to or actively mulling changing banks would consider banking with a tech company — such as Amazon, Facebook, or Google — if they could. This is not surprising, because such companies have spurred a desire for more customized interactions and fostered a willingness to trade data for a better experience.” BCG goes onto say: “Several consumer brands have shown the way forward. Netflix uses personalization techniques to make movie and series recommendations. Yet while many financial institutions are conceptually on

board and heavily investing, the Netflix of banking has yet to emerge. The main reason is that true end-to-end personalization requires developing new muscles — such as strong cross-channel offerings, cross-enterprise collaboration, a single view of the customer, and a new technology ecosystem — all of which are difficult to build.” Agreed … for the most part. Is receiving a purchase recommendation from Amazon or Netflix the same as getting one from your bank? I’m not convinced. When Netflix tells me that I might be interested in a certain program because it somehow aligns with one I’d watched previously, I have no concerns about data sharing and privacy. The kind of personal data that a bank needs to personalize one’s digital experience is far different from the data that Netflix uses to recommend their latest docuseries. I think it might have been one of those satirical commercials done by Saturday Night Live a while back, I’m not sure, but what I do remember was their lampooning of banks using personal data for marketing purposes. At one point in the faux commercial, which featured a young couple, the man receives a series of SMS messages from their bank. The messages are fairly innocuous at the start but become progressively more disconcerting. The first text seems ordinary enough: “We hope you’re enjoying the new truck you purchased with one of our auto loans.” When it’s followed shortly afterward by, “we’ve noticed that you made a large purchase at the grocery store just the other day … having a party?” The couple gets a bit concerned. By the last message they’re totally creeped out: “We have the loan you need when you’re

16 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

ready to decorate that baby room. Congratulations.” The gag, of course, is that the couple doesn’t know they’re pregnant, yet their bank somehow does. Granted, this is a bit of hyperbole, but it does point to the fact that monetizing consumer data can pretty quickly run afoul of the consumer’s desire for privacy. Consumers want the convenience of products and services being brought to their attention based on their “buyer journey” and purchasing habits, but they’re definitely conflicted about how much of their personal information is needed to make that happen. A Cognizant white paper on the subject states that when it comes to digital experiences, “critical customer interfaces should be re-examined in an era when Starwood Hotels allows you to check in and open the door to your room with your SmartPhone. Without making sound decisions over the coming months, many may be left struggling to catch up to digital winners.” Again, can a bank’s digital experience be equated with the ability to open a hotel room door without “hassling” with a key? What if you received a text or email from your bank saying: “Your oldest daughter is nearly 28 years old. Shouldn’t she be getting married soon? Maybe you should consider one of our HELOCs for that reception.” Or, better still, “Is everything okay at home? Over the past two weeks, you’ve spent $187.50 at the liquor store.” So, are banks “way behind” companies like Netflix and Amazon in offering a personalized experience? I’m not sure that we’re comparing apples to apples here. Yes, banks do need to do a better job of anticipating customer needs and engaging them across all channels with “the right message at the right time,” but it does make sense that they tread lightly here. Research from Epsilon indicates that a substantial percentage of consumers want and expect personalization: • 90 percent of consumers

More than one-third (36 percent) feel that companies don’t do enough to protect their private information. BCG estimates that for every $100 billion in assets that a bank has, it can achieve as much as $300 million in revenue growth by personalizing its customer interactions. Moving forward, the lion’s share of that interaction will be digital. Banks will certainly appreciate the $300 million in revenue growth … but they’re smart to take a thoughtful approach to trying to be the next “Netflix bank.” After all, isn’t personalization about listening to, understanding, and responding to the wants and needs of customers? Those that are listening are, in my opinion, being justifiably cautious. About Bank Marketing Center Here at BankMarketingCenter.com, our goal is to help you with that vital, topical and compelling communication with customers; messaging that will help you build trust, relationships and revenue. For example, just recently we created ads that focus on lines of credit.

To view the entire campaign, both print and digital, along with others, visit bankmarketingcenter.com. Or, you can contact me directly by phone at 678-528 6688 or email at nreynolds@bankmarketingcenter. com. As always, I would love to hear your thoughts on this subject.

feel that personalization is “very/somewhat” appealing. • 80 percent of consumers are more likely to do business with a company that offers personalized experiences. However, the research indicates this as well: “Despite consumers’ growing comfort with (and demand for) personalized interactions, a significant percentage of consumers are still protective of their personal information.” Twenty-five percent of consumers see getting personalized offers as “creepy,” and 32 percent say that getting personalized experiences is not worth giving up their privacy.

WWW.FLORIDABANKERS.COM SEPTEMBER 2021 — 17

THE NEED FOR A BIPARTISAN COMMISSION AT THE CFPB

BY CONGRESSMAN BLAINE LUETKEMEYER

R ecently in the Financial Services Committee at a hearing entitled “A Biased, Broken System: Examining Proposals to Overhaul Credit Reporting to Achieve Equity,” Chairwoman Waters and the majority made it clear that their efforts to move towards a government takeover of the financial services industry are moving full speed ahead. By rule, congressional hearings must have legislation tied to them. This particular hearing corresponded with Democrats’ legislation that

of the House Small Business Committee. At every turn, the Small Business Administration has sought to increase its direct lending and granting authority while cutting out private sector involvement. Those of us who have been around a few decades remember the farm credit crisis in the 70s. Cheap, easy money loaned directly from the government took farm debt to unprecedented level, and when the music stopped countless farmers were left in ruins. Those tough lessons have been forgotten or were never learned by some of my colleagues.

would create a government run credit bureau within the Consumer Financial Protection Bureau. This proposal would mean the government would be determining whether a person is credit worthy within the United States. The government would also determine how much of a person’s lending history would be available to banks when considering loan applications. This proposal came on the heels of another hearing on the Fintech Taskforce where the majority proposed on numerous occasions the idea of public Fed Accounts and Postal Banking.

Recently, my focus has been on keeping our regulators in their lane. I have reintroduced my bill to create a five-person, bipartisan commission to replace the single director position at the CFPB. The Bureau is constantly being used as a political football and its director wields so much power that the Supreme Court grappled with whether the position was even constitutional. Allowing one person to hold such unchecked power over our economy is irresponsible and verges on negligence. My bill would

THE FACT OF THE MATTER IS THE IDEAS THAT ARE GAINING TRACTION IN THE HOUSE FINANCIAL SERVICES

COMMITTEE ARE BEYOND CONCERNING.

provide increased accountability and transparency so the American people can trust the CFPB to do its job without political motivation. Currently at the CFPB, we have an Acting Director — who has not been confirmed by the Senate — making major policy decisions without the proper authority. He has taken nine enforcement actions, rescinded administration guidance on the CFPB’s policy for combating “abusive” industry practices, delayed the implementation of the Debt Collection Rule, and is moving full speed ahead on a rule to implement Section 1071 of Dodd-Frank, which

While it might not always sound like it, I do my best not to get political in these columns. The purpose is to inform you on what is happening in Congress and how it affects community banks. The fact of the matter is the ideas that are gaining traction in the House Financial Services Committee are beyond concerning. Democrats (not one Republican supported it) are pushing changes in law so that not only does the federal government decide who is eligible for a loan, but in many cases, they are the ones who will lend it. This Congress along with my duties on the Financial Services Committee, I am the Republican Leader

18 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING

THE BUREAU IS CONSTANTLY BEING USED AS A POLITICAL FOOTBALL AND ITS DIRECTOR WIELDS SO MUCH POWER THAT THE SUPREME COURT GRAPPLED WITH WHETHER THE POSITION WAS EVEN CONSTITUTIONAL.

requires banks to compile, maintain, and submit even more data to the CFPB. There have also been very concerning reports that the CFPB has used threatening tactics and started investigations into senior career staff in order to remove them from the Bureau due to their political affiliation. This could potentially violate the Civil Service Reform Act. The need for a bipartisan commission at the CFPB has never been clearer, and I will continue working to get my legislation passed to create order at the CFPB and allow it to function as it was designed to. In the

meantime, please continue to keep in touch with my office and let us know where we can help.

U.S. Congressman Blaine Luetkemeyer proudly represents Missouri’s 3rd Congressional District and has served in the U.S. House of Representatives since 2009. He is a member of the House Financial Services Committee and is the Ranking Member on the Subcommittee on Consumer Protection and Financial Institutions.

ABA ANNUAL CONVENTION

OCTOBER 17–19 , 2021 TAMPA CONVENTION CENTER Q TAMPA, FL ABA’s highly connected, powerful event for banks of every size and scope is back in person—and better than ever. Join us for:

KNOWLEDGE YOU NEED Irreplaceable in-person discussions, plus all 30+ sessions on demand REAL-LIFE NETWORKING The conversations and connections we have all been waiting for NEW EXHIBITOR EXPERIENCE An innovative, informal exchange of ideas with bankers and solutions providers

Register Today aba.com/AttendAnnual

WWW.FLORIDABANKERS.COM SEPTEMBER 2021 — 19

PERSONAL TRANSACTIONS

PROMOTIONS/NEW HIRES CLEWISTON

LAKE COUNTY

United Southern Bank announced changes in its Investment Management Department. Rick Levand , who has served in the department for four years, recently obtained his Series 7 security license, earning a promotion to the role of financial consultant. Additionally, the bank welcomed Cindy Kilts to the team as an LPL financial advisor. Kilts has spent her 30-year career in bank operations, mortgage origination and most recently investment management. Mark Hoeller has joined Beach Bank as its vice president, government lending officer. Hoeller started his banking career as a branch manager in 1998, working his way into business development and banking before moving to Florida in 2010. He

First Bank announced that Andrew Couse has been named executive vice president. Couse will continue

serving as the chief operations officer and remain a key member of the executive management team. This past year, his focus was primarily on the SBA Payroll Protection Program loans and delivering upgraded e-banking services to the Bank’s customers. Couse earned his bachelor’s degree from the University of Florida and completed his Master of Business Administration at Florida Gulf Coast University. He also graduated from the Graduate School of Banking at Louisiana State University. Active in his community, Couse serves on the SW Florida Community Foundation Board of Trustees, now called The Collaboratory, and serves as Chairman of the Glades County Economic Development Council. He is also a member of the Clewiston Rotary Club where he chairs the Annual Campbell and Frances Nall Rotary Golf Tournament. DAYTONA BEACH Mainstreet Community Bank Couse

Levand

Kilts

Hoeller

has decades of commercial banking experience in the conventional and government-guaranteed lending community and has vast SBA knowledge and experience. Hoeller graduated from the University of Dayton with a Bachelor of Science in Business Management degree. Active in his community, he volunteered for Meals on Wheels for several years and is currently on the advisory board for The First Tee of Tampa Bay. LOUISVILLE

announced the addition of Kelly Azzinaro as vice president and commercial lending officer. Azzinaro brings over 20 years of financial industry experience to the Volusia County market.

Azzinaro

Republic Bank & Trust Company announced the addition of Jeff Starke as executive vice president, chief information officer. Starke will lead technology team members and execute IT strategy to deliver stable, secure, and

She is skilled at boosting financial productivity for businesses, their owners and employees through the delivery of appropriate lending, cash management, payroll processing and payment services solutions. Active in her community, Azzinaro is a member of the South Daytona Rotary Club, the Local Chambers of Commerce and Realtor Boards. JACKSONVILLE

Starke

innovative services for Republic’s employees and customers. He joins Republic from Bank OZK in Little Rock, Arkansas, where he was the chief technology officer, served as chair of the Information Systems Steering Committee, and held various IT leadership positions during his 11-year tenure. Starke’s experience encompasses managing technology resources, communications, data center operations, banking systems, project management, IT risk and technology support. He holds an Associate of Science, Network Systems Administration degree from ITT Technical Institute of Greenfield, Wisconsin and is a certified Project Management Professional.

Florida Capital Bank announced the addition of Mike McCorvey as chief credit officer. McCorvey brings over 37 years of extensive experience in several areas of financial leadership, including commercial lending, bank operations,

McCorvey

risk management, strategic planning and performance management. In his new role, McCorvey manages the bank’s commercial credit portfolio. He holds a Bachelor of Science in Accounting degree from Auburn University.

20 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING